Asian markets ended the week on a positive note as investors priced in potential long-term impact of the Western sanctions on Russia.
U.S. President Joe Biden along with his G-7 allies unveiled sanctions targeting Russia’s ability to do business in the world’s major currencies, along with measures against banks and state-owned enterprises. However, did not put any restrictions on Russian from the SWIFT international banking system or targeting its oil and gas exports.
It has been clear the West would not put any motion that could potentially have adverse effect on their economy.
The CSI300, KOSPI, SET and TOPIX inched up by 0.97%, 3.21%, 1.06%, 1.03% and 1.00% respectively.
U.S futures Dow Jones, S&P and Nasdaq 100 are down by 0.5%, 0.5% and 0.42% respectively.
Crude oil futures slipped after trading over $1oo in previous session and earlier today. The WTI is trading at $92.52 per barrel and Brent is trading at $98.75 per barrel.
